Currently, the solar industries have bagged the running contract for supply of 375412MT bulk, which is explosive to the subsidiaries of the Coal India.
On Thursday, it came into limelight that the shares of Solar Industries India raised by 6 percent intraday. The industry has bagged order worth of Rs 1,143.63 crore from Coal India. This is for the supply of bulk explosives.
The solar industries have bagged the running contract for supply of 375412MT bulk, which is explosive to the subsidiaries of the Coal India.
The contract of the order is for 2 years. It was issued on November 1, 2017 and will be valid till October 31, 2019.
As per the analysts, the order has been awarded to domestic entity Solar Industries along with its subsidiary.
Coal India preserves all right to extend or close the contract, whenever they feel to do so. The quantity of the order can also be increased or decreased to the extent of 40 percent.
On the basis of price valuation formulae the RC price for bulk explosives will be revised after every quarter. This price valuation formulae includes price of AN, HSD, AICPU for industrial workers.
The RC holders need to provide security deposit bank guarantee for 10 percent of the average value of both the years.
On BSE, the Solar Industries India was quoting at Rs 1,075.40, up Rs 42.05, or 4.07 percent.
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